Hyster-Yale (NYSE:HY) Reaches New 12-Month Low Following Weak Earnings

Hyster-Yale, Inc. (NYSE:HY) reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $31.06 and last traded at $32.99, with a volume of 20303 shares changing hands. The stock had previously closed at $34.56.

The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $979.10 million during the quarter, compared to the consensus estimate of $955.69 million. Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%.

Hyster-Yale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.2%. Hyster-Yale’s payout ratio is currently 1,028.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HY. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyster-Yale in a research note on Wednesday, October 8th. Finally, Roth Capital set a $40.00 target price on Hyster-Yale in a research note on Thursday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Hyster-Yale currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Hyster-Yale during the third quarter worth about $27,000. US Bancorp DE boosted its position in Hyster-Yale by 15.2% during the 1st quarter. US Bancorp DE now owns 1,989 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 263 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Hyster-Yale by 25.8% during the 1st quarter. Quantbot Technologies LP now owns 4,073 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 835 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Hyster-Yale by 1,641.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,319 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 4,071 shares in the last quarter. Finally, Amundi raised its holdings in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares during the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

Hyster-Yale Stock Performance

The firm has a market cap of $605.35 million, a P/E ratio of 27.55 and a beta of 1.57. The stock’s 50-day moving average price is $36.32 and its 200 day moving average price is $38.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 0.65.

Hyster-Yale Company Profile

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.